The Aphrodite field is poised to connect with natural gas production facilities in Egypt through an underwater pipeline, a spokesperson from the Israeli hydrocarbon company, New Med Energy, announced. The company, in collaboration with Chevron and Shell, manages the Cypriot gas field.

According to the representative, the revised utilization plan for Aphrodite will expedite the exploitation of the natural gas field while concurrently reducing production costs, as stated in an interview with Reuters. The CEO of New Med Energy, Yossi Abu, shared his perspective on the amended development plan for the Aphrodite field in an interview with the Israeli economic newspaper, Globes. Mr. Abu emphasized the creation of new collaborative opportunities at regional and international level, as well as infrastructure development that will facilitate the global distribution of natural gas. He concluded by affirming the company's immediate focus on advancing the utilization plan for the Aphrodite field.

Globes, in its recent report, reflects on this significant development and highlights that the announcement of the revised plan by New Med Energy occurs amidst ongoing negotiations between Israel and Cyprus regarding the neighboring Isaias reserve. The issue of the Aphrodite-Isaias fields has been extensively deliberated by the energy ministries of both countries over the past twelve months.

In September 2022, Israeli Minister of Energy, Karin Elharrar, expressed her support for Israel's withdrawal from Isaias and the sale of Israel's rights in the gas field to one of the already licensed companies in the Cypriot Exclusive Economic Zone (EEZ). Elharrar's statements drew criticism within Israel, as they were interpreted by the opposition as compromising national interests for the sake of Cyprus. This reaction stemmed from a 2010 agreement between Israel and Cyprus, which stipulated that, in the event of the discovery of reserves encompassing both the Israeli and Cypriot EEZs, Israel and Cyprus would jointly exploit them.

The Israeli newspaper, Globes, reports that it is more likely for the Israeli share in the Aphrodite natural gas field to be sold to one of the companies already licensed in Cyprus. However, no specific source is cited to corroborate this estimation.

Some days ago, the "Cyprus Gateway: Natural Gas to Power and Liquefaction" workshop was held in Nicosia and received high praise from Cypriot and Israeli participants, according to the Energy Minister, Mr. Papanastasiou. There, the participants agreed that there is immediate interest in constructing a pipeline connecting Israel to Cyprus for power generation and liquefaction purposes. Discussions are currently underway to determine the pipeline's size and potential quantities of gas to be sent from Israel to Cyprus. Either way, Cyprus recognizes the significance of its natural gas resources in the East Mediterranean region and is actively seeking partnerships and collaborations to maximize their benefits.